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Russian Grain Exporters Warn Black Sea Halt
The Russian Grain Exporters Union has warned of a potential complete halt of grain export corridors through the Black Sea due to ongoing attacks on ships and ports in the region since the beginning of this month. If this happens, Russia's wheat exports could decrease by between 30 and 35 million tons, which is about 15% of the total global supplies, with no fully viable alternatives from other countries. The conflict between Russia and Ukraine is escalating, as Russia attacks Ukrainian port ships, and Ukraine responds with strikes on Russian ports. This has led to worldwide wheat prices reaching their highest levels in about two years.
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